Solis Minerals Advances Peru Drilling Amid Permit and Survey Milestones
Solis Minerals has launched a 2,500-metre diamond drilling campaign at its Chancho al Palo project in Peru, with additional drilling and survey programs advancing across its southern Peru copper-gold portfolio.
- 2,500m diamond drilling starts at Chancho al Palo targeting porphyry and IOCG deposits
- Ilo Este drill permit approved; 5,000m drilling expected to begin June 2025
- Induced polarisation survey at Cinto project nearing completion with results due in June
- Projects located in prolific Southern Peru Copper Belt
- Solis Minerals advancing multiple exploration fronts simultaneously
Exploration Momentum Builds in Southern Peru
Solis Minerals Limited (ASX: SLM) has taken a significant step forward in its exploration efforts by mobilising a diamond drill rig to its 100% owned Chancho al Palo copper-gold project in Peru. The initial 2,500-metre drilling program aims to test a series of high-priority targets identified through recent surface mapping, sampling, and geophysical surveys, focusing on porphyry and iron oxide copper-gold (IOCG) mineralisation styles.
Chancho al Palo is strategically situated within the prolific Southern Peru Copper Belt, sharing geological similarities with nearby projects such as AusQuest’s Cangallo and Southern Copper Corporation’s Tia Maria. This positioning enhances the prospectivity of Solis Minerals’ project, which remains underexplored despite its promising indicators.
Expanding Drilling Programs and Survey Completion
In parallel, Solis Minerals has secured a drill permit from the Peruvian Ministry of Energy and Mines for its Ilo Este project, also located within the same mineral-rich belt. The company plans to commence a substantial 5,000-metre diamond drilling program at Ilo Este in June 2025, pending finalisation of remaining approvals. This program targets highly prospective copper zones, further expanding Solis’ footprint in the region.
Meanwhile, an induced polarisation (IP) geophysical survey at the Cinto copper-gold project is nearing completion. Cinto, which has a history of consistent copper production dating back to the 1960s, hosts mineralisation comparable to Southern Copper’s Toquepala mine. Results from the IP survey are expected in June and will inform future drilling strategies at the site.
Strategic Outlook and Market Positioning
Chief Executive Officer Mitch Thomas expressed enthusiasm about the company’s advancing exploration programs, highlighting the potential of Chancho al Palo as a significant copper-gold system in a world-class mining district. The simultaneous progression of drilling at Chancho al Palo and Ilo Este, alongside the IP survey completion at Cinto, reflects Solis Minerals’ commitment to delivering a steady flow of news and advancing its portfolio’s value.
With copper demand poised to remain robust amid global decarbonisation efforts, Solis Minerals’ focused exploration in southern Peru positions it well to capitalise on emerging opportunities. The company’s methodical approach to testing multiple targets across its tenements underscores a strategic intent to unlock value through disciplined exploration.
Bottom Line?
Solis Minerals’ multi-pronged exploration push in Peru sets the stage for potentially transformative drill results in the coming months.
Questions in the middle?
- What initial assay results will the Chancho al Palo drilling yield, and how might they reshape Solis’ project priorities?
- Will the Ilo Este drilling program confirm the copper potential suggested by preliminary data and secure further investment?
- How will the IP survey outcomes at Cinto influence the timing and scale of subsequent drilling campaigns?
